5 things to know about The RealReal before its IPO:
With the secondhand retail market well on its way to becoming a $51 billion business, The RealReal, an online marketplace for consigned luxury items, has filed for an initial public offering.
The RealReal uses proprietary technology and trained experts to sell consigned luxury goods across categories ranging from women’s, men’s, kids, home and art.“Luxury goods retain value over time as a result of their enduring desirability and durability, making them particularly well-suited for resale,” the prospectus says, with The RealReal quoting data that shows the total addressable market in the U.S. for luxury goods at $198 billion.
ThredUp, another player in the secondhand business, forecasts that the resale sector will reach $51 billion by 2023, and will be larger than fast fashion in a decade. The RealReal will also use $300,000 to pay a lender under a term loan facility. Some of the proceeds may also go toward investments in technologies, products or services.And: 5 insane Amazon Prime perks you probably don’t know aboutIn addition to touting its authenticated luxury goods, The RealReal talks up the sustainable attributes of being in the secondhand business.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
10 Things to Know for TodayAmong AP10ThingstoKnow: Iran Revolutionary Guard shoots down US drone amid tensions; China's Xi holds talks with Kim Jong Un in North Korea; AP-NORC Poll: Tracking asteroids a favored focus for space program.
Read more »
Retailers J.C.Penney, Macy's oppose proposed tariffs on apparel, footwearDepartment store operators J.C. Penney Co Inc and Macy's Inc have opposed U...
Read more »
How Licensing Is Helping to Redefine Modern LuxurySteven Ekstract, of Informa Markets, shares his insights about the direction of the luxury market.
Read more »
Slack going public in a red-hot IPO market, with a twistWorkplace messaging firm Slack is about to go public in a red-hot IPO market, but it's approach to going public--using a 'direct listing'--is slightly different than an IPO.
Read more »
Remember That Aramco IPO? Prince Mohammed Does.For the first time in months, we have word about the Aramco IPO, directly from the mouth of Crown Prince Mohammed bin Salman. But does he really need an IPO anymore?
Read more »
20 Things to Keep by Your Bed on the Nightstand to Boost Relaxtion and CosinessThere are so many things you can keep next to your bed that can help make your bedtime cosy, relaxing and even help with better sleep.
Read more »